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20130113
20130121
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marker on that issue of the debt ceiling. will it hit of how much it can borrow. the president says that congress must raise it. he will not negotiate. it's their responsibility. that puts the president squarely at odds with the president. they'll demand spending cuts before raising that ceiling. the president will not engage in negotiates, period. it's simply congress's responsibility to act. >> he's ruled out any unilateral work-around. >>> an element of here we go again. >> it certainly does. so many times, back in august 2011, again, just before the end of this year, the president in pa major confrontation with congress over fiscal issues, taxes and spending and debt. >> you're looking at the door slightly ajarred to the green room, right next to the east room, and the president has been gathering there, we noticed that he postponed this press conference a couple of times this morning. a few delays. >> supposed to be around 11:15. we're almost half-hour after that. not quite. the president could face questions about personnel in the second term. he's facing a big fight with his
conference of his first term to issue an ultimatum to congressional republicans, raise the debt ceiling. but house republicans have been equally adamant they will not raise the debt ceiling unless the president first agrees to major spending cuts. >> i think the real issue here is, we all know, is spending. >> reporter: the president insists this is not even a subject for negotiation. >> the financial well-being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. >> reporter: stakes are higher than they were during the new year's eve showdown over the fiscal cliff. if an agreement isn't reached, the federal government faces default on its debt and a partial shutdown. >> social security checks and veterans benefits will be delayed. we might not be able to pay our troops. >> reporter: some have suggested president obama would have better luck with the republicans if he socialized with them. the president said that probably wouldn't make much of a difference, but he wouldn't mind trying. >> most people who k
take the debt ceiling off the table. but if not mint the darn coin." 24 hours later, the treasury department said no way. it's not going to happen and closed the doors. make the case for why you were for it. >> the thing you have to understand, the debt ceiling is a fundamentally stupid and -- but dangerous thing. we have congress that tells the president how much he must spend, tells him how much he's allowed to collect in taxes. he says okay there's a difference there. i've got to borrow it. no, you can't borrow it. so the whole debt ceiling thing itself is a crazy thing and forces the president to do something illegal. either to defy congress on what it told him to spend or defy them on borrowing and told him not to and have the weird loophole which everyone agrees is crazy. but is a loophole that says that the secretary of the treasury can mint a coin for any amount which is supposed to be for commemorative pieces but does avoid -- does offer a way to bypass this and all that's really doing is the way to bypass the debt ceiling. it isn't even printing money but saying, hey, we
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